
Core Viewpoint - Haidilao International Holding Ltd. reported a revenue increase of 3.1% and a net profit increase of 4.6% for the year ending December 31, 2024, indicating continuous growth in both revenue and profit for two consecutive years [1][2] Financial Performance - In 2024, Haidilao achieved an operating revenue of 42.755 billion yuan and a net profit of 4.7 billion yuan [1] - The core operating profit rose by 18.7% to 6.23 billion yuan [1] Store Expansion and Management - As of the end of 2024, Haidilao operated a total of 1,368 restaurants, including 1,332 self-operated restaurants in mainland China, 23 in Hong Kong, Macau, and Taiwan, and 13 franchised restaurants [1] - The company is focusing on empowering frontline restaurants to encourage differentiated operations to meet diverse customer needs [1] Product and Service Innovation - Haidilao launched over 20 national new products and more than 200 regional specialty dishes in 2024, adjusting offerings based on local dietary habits and ingredient availability [1] - The company introduced various themed restaurants, including private rooms, family-friendly, and late-night dining options, to cater to specific customer needs [2] Pricing Strategy - Haidilao adopted a pricing strategy of "absolute quality, relatively affordable," allowing stores to implement differentiated pricing based on their circumstances [2] Delivery and New Business Models - The external delivery business saw a 20.4% increase in revenue, reaching 1.254 billion yuan, attributed to the launch of "one-person meal" premium fast food in the second half of 2023 [2] - The company initiated the "Pomegranate Plan" to encourage the incubation and development of new restaurant brands, resulting in the establishment of 11 new brands with a total of 74 stores by the end of 2024 [2] Franchise Development - Haidilao officially launched its franchise business in 2024, completing the review and establishment of 13 franchise stores, demonstrating the feasibility of the franchise model for scaling [2] - Over 70% of franchise applications came from third-tier cities and below, with many from county-level cities, indicating strong demand in lower-tier markets [2]